Gift Cards Not Used to Make Tax Payments
Gift cards are a popular and convenient gift for all occasions. They’re also a tool that scammers use to steal money from people.
November 2020
IRS Resources to Help Small Business Owners
The IRS has a variety of resources to help small business owners, including veterans, understand their tax responsibilities. Small Business and Self-Employed Tax Center This page features links to useful tools and common IRS forms with instructions. Taxpayers can find help on topics such as starting or operating a business, recordkeeping, filing and paying taxes. …
Deductibility of Payments by Partnerships and S Corps for State and Local Income Taxes
The Internal Revenue Service (IRS) issued Notice 2020-75, which announces rules to be included in forthcoming proposed regulations.
How the CARES Act Changes Charitable Contributions
Whether taxpayers are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to them, their charitable donations may be tax-deductible. These deductions basically reduce the amount of their taxable income.
IRS to Mask Key Business Details to Protect Taxpayers from Identity Theft
Moving to protect business taxpayers from identity theft, the Internal Revenue Service announced that, starting Dec. 13, it will begin masking sensitive data on business tax transcripts.